Magna International Plans Quarterly Dividend of $0.33 (MG)

Magna International (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Wednesday, May 9th, Zacks reports. Shareholders of record on Friday, May 25th will be paid a dividend of 0.33 per share on Friday, June 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, May 24th.

Shares of TSE MG traded up C$0.44 during trading on Friday, reaching C$85.23. The company had a trading volume of 865,773 shares, compared to its average volume of 1,020,274. Magna International has a 52 week low of C$57.12 and a 52 week high of C$85.32.

Magna International (TSE:MG) (NYSE:MGA) last announced its earnings results on Thursday, February 22nd. The company reported C$1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$1.97 by C$0.02. Magna International had a net margin of 5.28% and a return on equity of 19.24%. The company had revenue of C$13.20 billion during the quarter, compared to the consensus estimate of C$12.50 billion.

In related news, Director Donald James Walker sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of C$72.12, for a total transaction of C$7,212,000.00. Also, insider Vincent Joseph Galifi sold 101,656 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of C$73.84, for a total transaction of C$7,506,279.04. Over the last three months, insiders have sold 337,434 shares of company stock valued at $25,239,862.

About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

Dividend History for Magna International (TSE:MG)

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